Business Cycles

Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.

(24:29)

Recorded at Mises University 2005.

Recorded at Mises University 2003.

Recorded at the 2003 Supporters Summit: Prosperty, War, and Depression.

(29:32)

Jorg Guido Hülsmann addresses some of the Problems in Cycle Theory at the 2003 Austrian Scholars Conference.

One of the most difficult things to understand about banking is how money is created out of thin air.  Current commercial bank liabilities are immediate. The banks do not have the reserves to redeem all demand notes. Thus, banks are inherently insolvent. But, government has eliminated runs on banks. Banks are not allowed to fail when they are mismanaged.

Boom, Bust, and the Future (26:36) January 18-19, 2002

Recorded at Mises University 2001.

Recorded at Mises University 2001.

Overall economic efficiency does not concern GDP growth per se, writes DW MacKenzie. It concerns the satisfaction of consumer demand. Increased military spending does not directly satisfy consumer demand. Nor do increased deficits and monetary stimulation substitute for market forces. They only set in motion another round of cyclical economic trends.